Stock Market PILIPINAS: Empowering the Filipino Investors

Full Version: Berjaya Philippines, Inc.
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Pages: 1 2 3 4
BUSINESS PROFILE

Berjaya Philippines, Inc. (BCOR) was originally incorporated on October 31, 1924 as Central Azucarera de Pilar mainly for the purpose of production of sugar. It subsequently changed its name to Prime Gaming Philippines, Inc. and completed the acquisition of its subsidiary corporation, Philippine Gaming Management Corporation (PGMC) in 1998. On June 2, 2010, the Board of BCOR approved the change of name to the present one, however, the matter is still pending in the Securities and Exchange Commission.

The principal activity of BCOR's subsidiary, PGMC, is the leasing of online lottery equipment and providing software support. Revenue from the lease of online lottery equipment, and maintenance and repair services are recognized based on certain percentage of gross receipts from lottery ticket sales.

On April 19, 2010, the Company acquired a 212-room hotel which operated as Best Western Hotel until March 16, 2010. The acquisition was made by the BCOR's subsidiary Perdana Hotel Philippines Inc. and Perdana Land Philippines Inc. (PLPI) The Company subscribed to 40% of the shares of stock of PLPI as part of its strategy to acquire an interest in the operation of the hotel.

Source: SEC Form 17-A (2010)
...here's your request Stock Junkie
nice nice nice.... first i thought this was a subsidiary of Genting Malaysia haha

but indeed interesting Sleepy
Dated December 16, 2011

Two gaming firms accumulate shares

TWO FIRMS in the gaming industry moved to accumulate stocks in their respective companies with lottery equipment supplier Berjaya Philippines, Inc. seeking to hike its share value while directors at Premiere Entertainment Philippines, Inc. infused more capital in exchange for additional equity.
Berjaya Philippines, in a disclosure on Friday, said it has purchased P45.992 million worth of common shares using unrestricted retained earnings. Following the transaction, the company’s outstanding shares now stood at 888.53 million, while treasury shares numbered 65.45 million, the disclosure read.

No changes were foreseen in the company’s control as a result of the share buyback, Berjaya Philippines said.

Earlier this week, the company allotted P400 million to fund a buyback program of its common shares in a bid to up the value of its shares, at a price to be determined by its top officials.

Despite this, Berjaya Philippines shares declined by 0.24% to P21.00 on Friday from P21.05 on Thursday.

Three board directors of Premiere Entertainment Philippines, meanwhile, agreed to subscribe to 175 million common shares at a subscription price of 30 centavos out of the firm’s unissued capital stock, a separate disclosure read.

"In view of the company’s need for cash to fund the expansion of its...operations, the directors-subscribers are willing to advance a portion of the subscription price to the company to be treated as deposit for future subscription," Premiere Entertainment Philippines said.

The subscription agreement will take effect upon the approval of the company’s amendment to its incorporation articles, which will reduce the firm’s authorized capital stock by 68.69% to P563.56 million, and decreasing its shares’ par value by 75% to 25 centavos from P1 apiece. The move is said to erase an estimated P1.24-billion deficit.

Shares of Premiere Entertainment Philippines plunged 3.39% to 29 centavos on Friday from 30 centavos at its previous close.

Source: http://www.bworldonline.com/content.php?...s&id=43440
60% of buyback money gone. I still think this is a way to let shareholders cash in on their stock at a premium. Still doing DD on this stock though.
P.S,

Thanks tito, as usual lightning fast response!
175m shares for P0.30 ??? why not offer IPO for those same shares at P1.00 talaga naman wheeling and dealing. hay... small fish lang tayo dito...
we underestimated this.. hihi...
Another window dress, c/o Abacus??
(12-19-2011, 09:41 PM)thespeculator Wrote: [ -> ]nice nice nice.... first i thought this was a subsidiary of Genting Malaysia haha

but indeed interesting Sleepy
There you go breakout...... Big Grin
30/4x next resistances Idea
Pages: 1 2 3 4